Bg renewal
This query is : Resolved
08 August 2012
Dear All,
BG (Bank guarantee) issued by a bank should be on the stamp paper or franking.
Is it requires BG renewal also on Stamp paper?
Pls advice.
Thanks
BG (Bank guarantee) issued by a bank should be on the stamp paper or franking.
Is it requires BG renewal also on Stamp paper?
Pls advice.
Thanks
Amol S Joglekar
(Expert)
08 August 2012
BG should be properly stamped. The various ways of stamping are 1. franking 2 non judicial stamp paper 3. Adhesive stamps. It depends upon the convenience of the customer/ bank
10 August 2012
Then if, Bank has provided BG renewal its letter head, is it valid?
Is it compulsory to insist BG renewal on Stamp paper OR Franking??
Pls advice.
Is it compulsory to insist BG renewal on Stamp paper OR Franking??
Pls advice.
Amol S Joglekar
(Expert)
29 August 2012
Both has same commercial value. Asthetically one may insist upon a particular form BUT legally both rank pari passu.
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